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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Innate Pharma    IPH   FR0010331421

INNATE PHARMA

(IPH)
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Innate Pharma : reports third quarter 2020 financial results and business update

11/18/2020 | 09:44am EST

Innate Pharma SA (Euronext Paris: IPH - ISIN: FR0010331421; Nasdaq: IPHA) ('Innate' or the 'Company') today announced its revenues and cash position for the first nine months of 2020.

'In November, we were very pleased that our lead proprietary asset, lacutamab, was awarded PRIME designation in Sezary Syndrome by the European Medicines Agency, which follows the US Fast Track designation by the FDA last year. Lacutamab is an important part of our strategy to build a focused proprietary pipeline, and these regulatory milestones further validate the unmet need in this patient population,' said Mondher Mahjoubi, Chief Executive Officer of Innate Pharma. 'In addition, the Phase 3 monalizumab clinical trial recently initiated by AstraZeneca is an important achievement for the Company, as it both validates our scientific approach while fortifying our cash position until the end of 2022. Collectively, these milestones are strong proof points in executing on our strategy and accelerating our efforts to deliver meaningful medicines to patients.'

About Innate Pharma

Innate Pharma S.A. is a commercial stage oncology-focused biotech company dedicated to improving treatment and clinical outcomes for patients through therapeutic antibodies that harness the immune system to fight cancer. Innate Pharma's commercial-stage product, Lumoxiti, in-licensed from AstraZeneca in the US, EU and Switzerland, was approved by the FDA in September 2018. Lumoxiti is a first-in class specialty oncology product for hairy cell leukemia. Innate Pharma's broad pipeline of antibodies includes several potentially first-in-class clinical and preclinical candidates in cancers with high unmet medical need.

Innate has been a pioneer in the understanding of natural killer cell biology and has expanded its expertise in the tumor microenvironment and tumor-antigens, as well as antibody engineering. This innovative approach has resulted in a diversified proprietary portfolio and major alliances with leaders in the biopharmaceutical industry including Bristol-Myers Squibb, Novo Nordisk A/S, Sanofi, and a multi-products collaboration with AstraZeneca. Based in Marseille, France, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.

Disclaimer on forward-looking information and risk factors

This press release contains certain forward-looking statements, including those within the meaning of the Private Securities Litigation Reform Act of 1995.The use of certain words, including 'believe,' 'potential,' 'expect' and 'will' and similar expressions, is intended to identify forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company's commercialization efforts, the Company's continued ability to raise capital to fund its development and the overall impact of the COVID-19 outbreak on the global healthcare system as well as the Company's business, financial condition and results of operations. For an additional discussion of risks and uncertainties which could cause the company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors ('Facteurs de Risque') section of the Universal Registration Document filed with the French Financial Markets Authority ('AMF'), which is available on the AMF website http://www.amf-france.org or on Innate Pharma's website, and public filings and reports filed with the U.S. Securities and Exchange Commission ('SEC'), including the Company's Annual Report on Form 20-F for the year ended December 31, 2019, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public, by the Company. This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

Contact:

Tel: +33 (0)4 30 30 30 30

Email: investors@innate-pharma.com

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.44% 7592 Delayed Quote.3.66%
INNATE PHARMA 1.70% 3.834 Real-time Quote.10.75%
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Financials
Sales 2020 85,7 M 103 M 103 M
Net income 2020 -30,8 M -37,2 M -37,2 M
Net cash 2020 152 M 183 M 183 M
P/E ratio 2020 -5,47x
Yield 2020 -
Capitalization 303 M 366 M 366 M
EV / Sales 2020 1,76x
EV / Sales 2021 4,00x
Nbr of Employees 247
Free-Float 75,3%
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 7,23 €
Last Close Price 3,83 €
Spread / Highest target 187%
Spread / Average Target 88,4%
Spread / Lowest Target -21,8%
EPS Revisions
Managers and Directors
NameTitle
Mondher Mahjoubi Chairman-Executive Board & Chief Executive Officer
Hervé Eloi Dominique Brailly Chairman-Supervisory Board
Laure-Hélène Mercier CFO & Member-Executive Board
Eric Vivier Chief Scientific Officer & Senior Vice President
Odile Belzunce Senior VP-Compliance & Information Technology
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